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Schroders will take charge of the embattled Woodford Patient Capital Trust (WPCT) after former star stockpicker Neil Woodford’s abrupt departure last week. Shares in WPCT surged over 28 per cent in morning trading following the news. Read more: DEBATE: Can Neil Woodford’s reputation ever recover? Woodford’s fall from grace was cemented last week when he [...]
The financial watchdog has hit back at claims it put pressure on administrators to close Neil Woodford’s flagship fund because the scandal surrounding its suspension was undermining confidence in the industry. Link Fund Solutions, which was responsible for overseeing the suspension of the £3bn Equity Income Fund (WEIF), announced on Tuesday that the fund would [...]
The Financial Conduct Authority (FCA) has defended itself against accusations it was ‘asleep at the wheel’ ahead of the collapse of former star fund manager Neil Woodford’s investment empire. CMC Markets’ chief analyst Michael Hewson told City A.M. he thought the FCA “was probably asleep at the wheel” in the runup to the suspension of [...]
Shares in Neil Woodford’s investment trust have fallen again in early trading following a bruising day which saw the once-lauded fund manager’s empire collapse. Woodford was yesterday dismissed as the manager of his flagship Equity Income Fund (WEIF) and resigned from the Woodford Patient Capital Trust (WPCT) and Income Focus Fund. Read more: Woodford winds [...]
The investment empire of former star fund manager Neil Woodford came crashing down tonight after a bruising day which saw him sacked as manager of his flagship fund and resign from the remaining two, cementing the embattled stockpicker’s spectacular fall from grace. The closure of Woodford’s Equity Income Fund (WEIF) was announced this morning by [...]
The removal of Neil Woodford from his flagship Equity Income Fund and the announcement of the fund’s closure marks a major blow for the former star stockpicker. City A.M. has taken a look at the rise – and fall – of the famed money manager. Read more: How Woodford’s star came crashing down to earth [...]
The decision to sack Neil Woodford as manager of his flagship Equity Income Fund (WEIF) and liquidate the fund’s assets sent shockwaves through the financial world this morning. Link Fund Solutions, which has been managing the suspension of the Woodford fund since it was gated in June, announced this morning that the fund would be [...]
When administrator Link announced this morning that Neil Woodford’s flagship Equity Income Fund would be closed down, the firm said this would mean investors could have their cash returned to them “more quickly than if the Fund had remained suspended”. But now industry professionals are warning that investors may not receive their money for over [...]
Former star stockpicker Neil Woodford has condemned the decision to shut down his flagship Equity Income Fund (WEIF) and fire him as its manager, claiming it is not “in the long-term interests” of investors. Link Fund Solutions, which was tasked with administering WEIF’s suspension, wrote to investors this morning to tell them the fund will [...]
Neil Woodford is to be fired from his flagship fund, which will shortly be wound up, the administrator charged with overseeing its frozen assets has announced. Corporate director Link Fund Solutions has written to investors to say it will return their cash as soon as possible from Woodford Investment Management. Read more: Watchdog calls for [...]
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